Wipro shares trade 1:3 ex-bonus; stock climbs 5%

Shares of Wipro gained 5 per cent to Rs 285 apiece on the National Stock Exchange (NSE) in early morning trade, after the stock turned ex-bonus in the ratio of 1:3.

At 10:33 am, Wipro was trading at Rs 282, up 3.5 per cent, the top gainer among benchmark index Nifty 50. A combined 11.25 million equity shares changed hands on the counter on the NSE and BSE so far.

The board of directors of Wipro at their meeting held on January 18, had recommended issue of bonus equity shares in the proportion of 1:3 (one equity share for every three equity shares held). The company fixed March 7, 2019, as the record date to determine eligible shareholders entitled to receive the bonus equity shares.